Jerusalem Gateway project inaugurated, to attract big business

According to Nir Barkat, the Jerusalem Gateway project will become the most prominent business district in the country, with an investment of NIS 1.4 billion.

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October 26, 2016 22:42
1 minute read.
Jerusalem Gateway project

THE Jerusalem Gateway project. (photo credit: JERUSALEM MUNICIPALITY)

Jerusalem Mayor Nir Barkat was joined Wednesday night by Transportation Minister Israel Katz and Jerusalem Affairs Minister Ze’ev Elkin at a cornerstone- laying ceremony for the capital’s new business district.

According to Barkat, the Jerusalem Gateway project will become the most prominent business district in the country, with an investment of NIS 1.4 billion.

It will include 24 buildings spread out over approximately 211 dunams near the Central Bus Station, including 14 skyscrapers of at least 24 floors each and nine buildings with 36 floors. The Jerusalem International Convention Center (Binyenei Ha’uma) will be renovated and expanded.

The new site will create an estimated 40,000 jobs, and 65,000 people will pass through the entrance daily.

The development will also become the largest integrated transportation hub in Israel, featuring a high-speed train to Tel Aviv, two light-rail lines, public and private transit routes and private and public areas for pedestrians, Barkat said.

“This is the biggest, most significant and vital project for the future of Jerusalem,” he said. “Tens of thousands of new jobs will be created in the area, which will accelerate [Jerusalem’s] economy.

After the completion of the business district, it will strengthen economic growth, reverse migration and become an attractive city for young people and future generations.”

Globes contributed to this report.


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